Page 33 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

Press Release

Sobha Realty achieves all-time high sales in 2023 with record

bookings of AED 15.5 Billion

Dubai 1 March 2024: Sobha Realty, a leading real estate developer in the region committed
to delivering unrivalled quality and luxury, concluded the year 2023 with record-breaking

sales. The company recorded all-time high sales of AED 15.5 billion in 2023, demonstrating

the surging demand for its luxury properties.

In 2023, the company witnessed a 51 per cent growth in sales across its diverse portfolio of

residential and commercial developments in Dubai. The company attained its sales target of
AED 15 billion in 2023 and is aspiring to achieve AED 20 billion in 2024. Sobha Realty’s

steadfast commitment to ensure utmost excellence in design, craftsmanship, quality, and
customer satisfaction, as well as timely delivery of its projects have been key factors for the

rising demand for its properties. The company handed over 1819 units in the last year across 2

of its completed projects, before their due date. In view of this sales growth, the company has
attained a market share of ~10 per cent by value in Dubai during the year.

Last year, the company also made significant strides in establishing a robust global presence
through its marketing efforts and set out the aspiration to expand its footprint in some key

global markets. Sobha Realty’s consistency in setting new industry standards with each of its
projects, including the newly launched Sobha Hartland-2 and Sobha Seahaven Sky Edition, has

resulted in a strong demand from the consumers.

Last year the company took a strategic initiative to introduce their first corporate brand
campaign ‘The Art Of The Detail’ which showcases the DNA of the organization. As a result,

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Sobha realty rose up to become the 2 most recalled brand in Dubai Real Estate in the year,
reported in a brand heath research conducted amongst real estate intenders.

Ravi Menon, Co-Chairman of Sobha Realty, said: “We are delighted to conclude 2023 on

a high note, attaining record-breaking sales and establishing strategic partnerships that will